Core Viewpoint - Tian Su Measurement has successfully passed the IPO review by the Shenzhen Stock Exchange, marking a significant step for the company in its growth trajectory [1] Company Overview - Established in 2009, Tian Su Measurement is a national, comprehensive independent third-party measurement and testing service provider, specializing in calibration, testing, and certification services [3] - The company has achieved recognition as a national high-tech enterprise and has been designated as a "service-oriented manufacturing demonstration platform" and "public service platform for industrial technology foundation" by the Ministry of Industry and Information Technology [3] - As of June 2025, Tian Su Measurement has developed calibration services across ten fields, including geometric, thermal, mechanical, electromagnetic, radio, time and frequency, acoustics, optics, chemistry, and ionizing radiation, totaling 1,417 calibration services [3] Market Position and Client Relationships - The company has established long-term cooperative relationships with notable enterprises such as Shougang Group, China Railway, China National Nuclear Corporation, State Grid, and China Railway Construction, resulting in a high customer retention rate and stable client base [3] Technological Advancements - Tian Su Measurement focuses on enhancing its technical capabilities and service quality through independent research and development, resulting in twelve core technologies that support various downstream sectors, including biomedicine and high-end equipment [4] Financial Performance - The company's revenue and net profit have shown a positive growth trend, with revenues of 726 million yuan, 800 million yuan, and 409 million yuan for the years 2023, 2024, and the first half of 2025, respectively. Net profits were 101 million yuan, 111 million yuan, and 55.576 million yuan for the same periods [4] IPO Fundraising Plans - Tian Su Measurement plans to raise 424 million yuan through its IPO, which will be allocated to projects aimed at enhancing measurement capabilities, building regional laboratories, establishing a digital center, and supplementing working capital [4] - The company believes these projects will enhance its production capacity, improve profitability, and facilitate rapid expansion of its market share [4]